Toney was not fired

Former chairman of the National Insurance Board and the National Insurance Property Development Company (NIPDEC) Michael Toney said he was not fired from the positions, but his term as chairman of the NIB was not renewed.

Contrary to reports that he was quietly dismissed for not doing Government’s bidding, Toney yesterday told Newsday that his two-year term as chairman of the NIB came to an end on November 25. He was appointed on November 26, 2015.

“I was not fired. My term came to an end. If I was asked to prolong my service I would have been willing to serve. I was not asked to continue,” he said. While Government appointed Toney as chairman of the NIB, the NIB appointed him chairman of NIPDEC. As a result, he said, when his term as chairman of the NIB came to end he resigned his position as chairman of NIPDEC. Toney was appointed chairman of NIPDEC on January 7, 2016 for a three-year term.